Business leaders say the multi-billion pound package to help businesses with energy costs is “Moving in the right direction,” but a long-term plan is needed.
Yesterday, Business Secretary Jacob Rees-Mogg announced the highest pricing for offshore energy users. This will roughly halve the price they pay per unit.
The project will initially be operational for six months. More targeted assistance will be planned thereafter.
Hampshire Chamber Chief Executive Ross McNally said: “We call on the new Truss Government to take immediate action to help businesses. With energy bills skyrocketing as we enter winter, So we welcome this limit. It would alleviate the huge need for companies in Hampshire and across the country. Many companies face impossible cost pressures.
“Suppliers must immediately pass on the savings generated by the cap to their business customers. One of the most important things for businesses is confidence and, unfortunately, because of the trends they face. Many businesses are reluctant to make investment and hiring decisions. Which is not good for them or the economy.
“This short-term limit is a step in the right direction. But we need to see more action from the Prime Minister in Friday’s small budget. In particular, a comprehensive long-term support plan to protect business, livelihood and work.”
Ged Gorrie, owner and manager of Shenanigans in Carlton Place, Southampton, said: “We are very pleased with what we have heard. It means that instead of quadrupling Our expenses will be doubled.
“The cost is definitely increasing. But that means more stability and helps us get through six months with a little confidence. And they said they would support the business beyond that.
“It is not a painted doomsday situation.”
Aidan Lavin, co-owner of Dancing Man Brewery at Town Quay, said: “Make no mistake about the government’s proposal to cut energy costs at the heart of the business. With dreadful reports that we may face electricity costs of up to £600 per megawatt hour. The expected discount of £211 per MWh is not only welcome but vital to survival.
“This kind of decline should stop people feeling weak. and giving businesses and homes the security they need this winter.”
Utilita, an energy company based in Chandler’s Ford, said: “We’ve been saying for a while that energy support should be extended to business consumers. Therefore, we are very pleased that the current government will intervene.
“Without this, SMEs (Small and Medium Enterprises) which are the backbone of the UK economy. will be fully affected by the unprecedented rise in wholesale energy prices.
“We look forward to seeing long-term plans when reviewing the Energy Bill Relief Scheme in January.
“In the meantime We will continue to work closely with our commercial customers. Most of them are small businesses. to make sure they get the support they need.”
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